India and US Initiate Talks on Bilateral Trade Agreement

Commerce Minister Piyush Goyal and US Trade Representative Jamieson Greer have commenced discussions in New Delhi regarding the first phase of a bilateral trade agreement. The talks come in light of recent changes in US tariffs, following the Supreme Court's decision to strike down previous tariffs imposed by the Trump administration. India aims to reduce tariffs on various US goods while planning significant purchases of US energy products and technology. The Opposition Congress party has raised concerns about the potential impacts of the agreement on India's interests, urging caution in negotiations. This meeting marks a critical step in shaping future trade relations between the two nations.

By Narendra Chaudhary Jun 23, 2026, 13:34 IST

Bilateral Trade Discussions Commence

Goyal (centre) meets US trade representative Jamieson Greer and US Ambassador to India Sergio Gor, in New Delhi, on Tuesday. (PhotO:PTI)

New Delhi, June 23: On Tuesday, Piyush Goyal, the Minister of Commerce and Industry, engaged in discussions with US Trade Representative Jamieson Greer regarding the initial phase of their bilateral trade agreement.

Greer is currently in New Delhi for these crucial trade negotiations.

In a social media update, Goyal extended a warm welcome to Greer, US Ambassador to India Sergio Gor, and their team, expressing eagerness for fruitful discussions on the trade agreement between India and the US.

Attending the meeting at Vanijya Bhawan, the headquarters of the Ministry of Commerce and Industry, are Commerce Secretary Rajesh Agrawal and Darpan Jain, India's Chief Negotiator and Additional Secretary in the Department of Commerce.

This meeting follows earlier discussions held in the national capital from June 2 to 4.

In February, both nations outlined the framework for the first phase of the Bilateral Trade Agreement (BTA).

This framework was influenced by the 50% tariffs that the US had placed on Indian goods. However, on February 20, the US Supreme Court invalidated the extensive tariffs that were enacted during the Trump administration.

Subsequently, the Trump administration introduced a 10% tariff under Section 122 of the Trade Act, applicable to all countries for a duration of 150 days starting February 24, which is set to expire on July 24.

The ongoing discussions are significant due to these recent changes in the US tariff policy.

India and the US officially commenced BTA negotiations on February 13, 2025, and on February 7, 2026, they announced a framework for an interim agreement aimed at establishing reciprocal and mutually beneficial trade.

As part of this framework, India has proposed to eliminate or reduce tariffs on a variety of US industrial goods and numerous food and agricultural products, including Dried Distillers' Grains (DDGs), red sorghum for animal feed, tree nuts, fresh and processed fruits, soybean oil, wine, and spirits.

Additionally, New Delhi has indicated plans to acquire USD 500 billion worth of US energy products, aircraft and parts, precious metals, technology items, and coking coal over the next five years.

With the evolving tariff situation in the US, both parties are reassessing the agreement's framework.

Meanwhile, the Opposition Congress party has urged Prime Minister Narendra Modi to refrain from catering to President Trump, asserting that India should not be coerced into signing a trade agreement that currently does not favor its interests.

Congress general secretary Jairam Ramesh questioned the assurance of no unilateral tariff impositions in the future, emphasizing the need for caution in any potential deal.

“PM Modi must stop appeasing his good friend President Trump, who has claimed that he halted Operation Sindoor over a 100 times and is yet to be challenged by Mr. Modi on that claim,” Ramesh stated in a social media post.